Tuesday, May 6, 2014

Home Buyer Tips: What is "the view" worth?

What is "the view?" I know there is a talk show on television that goes by a similar name but that is not what I speak of here.

There are lots of different views in the Brevard County, Florida real estate market.

There is the ocean view or river view as well as the very common lake view or pond view. (By the way a lake and a reclaimed water pond are not the same - except during rainy season.)

And then there is the golf course view or preserve/conservation area view.

Regardless of view another quality should be evaluated and described accurately - the all important type of view.

Is it a direct view? Or is the view only visible when one is in the yard or sitting by the pool? Or does the view require sitting in a certain room of the house or condo.

In real estate it is all about location. The addition of a special view to a property always increases the price of the property.

Compare condo prices "on the beach" where the unit is directly facing the ocean or faces west toward the street or parking? Or the golf course view looking over a manicured green versus the golf course tee box. "On the golf course" is direct but it is not the same.

Finally, what is a view worth? In new construction builders always price the lot at a premium allowing buyers to know price of a view. With resales it is possible for an analysis to come up with a general value for differences in site view.

Still, as with all things... Ultimately the worth of a view will be determined by the buyer.What would you pay for direct ocean or a golf course view or lake front? That is a question all buyers must ask themselves. When you are ready to sell your home promote the characteristics that bring the greatest value to market. It may be the view, the neighborhood, the amenities, the lifestyle....

Ready to sell your Viera, Florida home? Call me at 321-698-2850 if I can help in any way.